Flipkart’s’ digital payment ancillary Phonepe has recently procured Zopper retail. A hyperlocal Point of sale (POS) platform meant for small and medium enterprises.
The move has been made to promote the offline business of the company. Zoppers’s CEO Neeraj Jain and the engineering team will be working for the Phonpe now.
Neeraj Jain, CEO, Zopper, stated that “By joining forces we strengthen our commitment to using technology for simplifying our merchant’s billing, payments and inventory management systems.”
Flipkart’s PhonePe Procures Zopper Retail- How it will help
- The acquisition is expected to work towards the enhancement of the adoption of the digital payment modes for the seller.
- The company currently have a network of 3 lakhs offline and online outlets of food, travel, groceries, movie tickets and likewise.
- The company has reportedly achieved the 100 million user mark and the $20 billion annual TVP rate in May 2018.
- It has recently released the mini app on Phonepe for it users to book cab services like ola and make payment for Redbus service, through this app users can also make hotel booking using Goibibo service.
On the acquisition, Sameer Nigam, CEO, PhonePe, asserted “Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. Zopper Retail is specifically designed to meet the needs of millions of small retailers in India, and their strategy ties in very well with our overall vision of making digital payments universally accepted across the country.”
PhonePe aims for a better and successful strategy
PhonPe is vouching for huge growth on the offline payment methods. They have forecasted that with this move the amount of transaction from offline services will be much more than the online by the end of 2018.
The company will be using its own POS payment gateways at small enterprise location and will be joining hands with the large merchant chains at the national level.
This Bangluru based start-up is targeting the huge share of offline transaction mode in different sectors. Prior to this, the PhonePe has unveiled the POS device for small merchants.
Before this procurement PhonePe partnered with Indian Oil Corporation and enabled the POS mode for IOCL users using UPI, credit and Debit cards, PhonePe wallet and likewise for their fuel purchase payments.